Rabobank is getting ready to shift its fixed-income structured products desk from Singapore to Hong Kong in a bid to better tap demand in the growing North Asian markets. "It's where the action is," said an official at the firm, explaining it sees good potential in Korea and Greater China.

The plan is still being finalized, but Donal Galvin, head of global financial markets in the Lion City, and eight to 12 staff are expected to relocate in the next few months. Galvin was traveling and could not be reached. The move follows a build up on the equity derivatives side of the business, for which a desk was set up last year (DW, 2/4/05).